The Bank of New York Mellon Co. (NYSE:BK – Get Free Report) VP Hanneke Smits sold 16,475 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $76.47, for a total transaction of $1,259,843.25. Following the completion of the transaction, the vice president now owns 157,455 shares of the company’s stock, valued at approximately $12,040,583.85. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Bank of New York Mellon Stock Down 1.4 %
BK stock opened at $76.67 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.70 and a quick ratio of 0.70. The company’s 50 day simple moving average is $69.81 and its 200-day simple moving average is $63.11. The Bank of New York Mellon Co. has a 12 month low of $41.15 and a 12 month high of $78.03. The firm has a market capitalization of $57.34 billion, a PE ratio of 17.75, a P/E/G ratio of 1.16 and a beta of 1.08.
Bank of New York Mellon Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.45%. The ex-dividend date is Monday, October 21st. Bank of New York Mellon’s payout ratio is 43.52%.
Hedge Funds Weigh In On Bank of New York Mellon
Wall Street Analyst Weigh In
Several research firms have issued reports on BK. JPMorgan Chase & Co. upped their price objective on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Wells Fargo & Company increased their price target on shares of Bank of New York Mellon from $69.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised Bank of New York Mellon from a “hold” rating to a “buy” rating and increased their price objective for the stock from $66.00 to $80.00 in a research report on Monday, September 23rd. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $75.00 target price (up previously from $70.00) on shares of Bank of New York Mellon in a report on Monday, July 15th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $79.00 price target on shares of Bank of New York Mellon in a report on Monday, October 14th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.69.
Read Our Latest Analysis on BK
About Bank of New York Mellon
The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.
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